unsecured debt Archives - Bankruptcy Attorney Orlando | Student Loan Attorney Orlando

Can Creditors take my Social Security or Pension Income in Bankruptcy?

Lewis Roberts, Florida Bankruptcy Lawyer2017-01-20T00:06:01-05:00

You have mounting credit card and other unsecured debts, but you are on a fixed income of social security or pensions. Surprise! You might not need to file bankruptcy at all! It will take some discipline, some planning, and your willingness to not use traditional sources of credit for future purchases - but it can be done. I consult with potential clients who often have only exempt assets (creditors cannot touch these possessions) and their [...]

Your Debt in Bankruptcy: Secured and Unsecured

2017-01-20T00:06:02-05:00

Bankruptcy generally involves two types of debt - secured and unsecured. Let's start with secured debt. Debt that is secured generally means that you pledge an asset to assure the payment of the loan. The most common examples are car loans and mortgage loans. If you don't pay your car loan, the lender will repossess the car. If you don't pay your mortgage loan, the lender will foreclose and take the property back. There are other types [...]